Fees Accrued Clause Samples
The "Fees Accrued" clause defines how and when fees become due and payable under an agreement, regardless of whether the contract is terminated or completed. Typically, this clause clarifies that any fees earned up to the date of termination or expiration must still be paid by the client, even if services are discontinued early. Its core function is to ensure that the service provider is compensated for all work performed up to a certain point, thereby protecting against non-payment for services already rendered.
Fees Accrued after November 20, 2005 (NCC Fees)
(1) Legal fees payable to legal counsel from November 20, 2005 forward will be paid in accordance with the terms set out in Section 13.10(1)(2)(4) and (5) of this Agreement.
(2) Subject to 13.07, all legal fees payable under Section 13.06 and
Fees Accrued for the account of the Revolving Lenders under subsections (a) and (b) of this Section shall be payable quarterly in arrears on each Quarterly Payment Date and on the day on which the Revolving Commitments terminate in their entirety (and, if later, on the day on which the Credit Exposures are reduced to zero).